New Hampshire Income Tax Calculator
Estimate your New Hampshire income tax burden
Updated for 2023 tax year on Jul 18, 2023
Income tax calculators by state
New Hampshire state taxes
Quick New Hampshire tax facts
- State income tax: 5% on interest and dividends only
- State sales tax: None
- Property tax: 2.2%
- Gas tax: 23.83 cents per gallon
- Tobacco tax: $1.78 per pack of 20 cigarettes
- Insurance premium tax: 1.25%
From Wikipedia
New Hampshire income taxes
New Hampshire is one of the few states that do not impose a state income tax on earned income, making it quite tax-friendly for wage earners.
However, there is a 5% tax on interest and dividends, which can impact certain taxpayers, particularly those with significant investment income. There are no standard deductions or personal exemptions due to the lack of broader income tax.
State income tax brackets
New Hampshire does tax income from interest and dividends, however. The Interest and Dividends Tax is a flat rate of 5%. The standard exemption for that tax is $2,400 for Single and $4,800 for married persons filing jointly, so taxpayers with income from interest and dividends below that amount do not have to pay any taxes. Additional exemptions of $1,200 are available to residents who are either 65 years or older, blind or disabled and unable to work.
Taxpayers with income from interest and dividends above their total exemption will pay taxes only on the amount that exceeds the exemption. Say, for example, a single filer earns $6,000 in interest annually. They would pay $180 in taxes, because the 5% tax only applies to the $3,600 above their exemption.
| Tax year | Filing status | Personal exemption amount |
|---|---|---|
| 2023 2022 2021 2020 |
Single Married, Filing Separately Head of Household |
$2,400 |
| Married, Filing Jointly or Widow(er) | $4,800 |
New Hampshire sales tax
New Hampshire is one of only five states in the U.S that does not collect a state sales tax.
New Hampshire property tax
On the other hand, New Hampshire has the highest property tax rates in the nation, with an average effective rate of 2.20%.
New Hampshire capital gains tax
As New Hampshire does not levy a general income tax, they also do not tax capital gains at the state level.
New Hampshire gas tax
The state imposes a gas tax of 23.83 cents per gallon.
New Hampshire tobacco tax
New Hampshire charges a tobacco tax of $1.78 per pack of 20 cigarettes to discourage smoking and support public health initiatives.
New Hampshire insurance tax
Insurance companies operating in New Hampshire are subject to an insurance premium tax of 1.25% on the total insurance premiums they collect.
FAQs
How do I calculate my New Hampshire income tax?
If you earn a regular wage, it is all income tax free.
How much is $74000 a year after taxes in New Hampshire?
It will be $59,798.50 for a single New Hampshirite after deducting a income tax of $14,201.50.